Finance organizations have changed dramatically, shifting from looking backwards for financial statements, to helping define the company’s strategic direction via forward-looking insights. And technology is making that possible by automating repetitive transactional tasks to make finance more efficient. For example, with machine learning, you can dramatically cut the time to apply cash to receivables, as well as reconcile your good receipt/invoice receipt accounts, and actions on exceptions are learned and applied to future transactions. In addition, machine learning can also help you with predictive capabilities, including liquidity management and identifying potential fraud scenarios to allow you to take mitigating actions.
Key Business Benefits:
- Increase automation: Increase efficiency and reduce errors in the finance department. Enable finance to focus on strategic tasks.
- Increase visibility of finance: Ensure real-time insight and use of predictive capabilities to enable finance to recommend a course of action to the business.
- Reduce TCO: Technology learns from accountant behavior and starts working for you immediately. It continually adapts and does not require ongoing maintenance.
